Nilam Resources Inc. to Dispatch Independent Geological Team to Start Next Phase Plan on its Llipa Project
26.11.2012 | PR Newswire
Located In Close Proximity to the Great Antamina and Cerro de Pasco Mines in Central Peru LIMA, Nov. 26, 2012 - Nilam Resources Inc. ("Nilam" or the "Company") (NILA-OTCQB) announces today that it is sending an independent geological team to start the next phase plan on its Llipa property in Central Peru. The company is looking forward to receiving their report sometime in the first calendar quarter of 2013.
The LLIPA project has two major mining concessions in Central Peru located in between the great Antamina and Cerro de Pasco mines and shows a strong potential for becoming a major poly-metallic open pit mine. The mine was previously in production and had already produced 1 million tons of tailings containing copper, gold, silver, and zinc which currently remain on the property.
LLIPA mine is located NE of the Linderos Project and accessible by highway (380 km from Lima). The LLIPA mining project is located in the center of Peru
The utilities of water and electricity are available in the near proximity of the LLIPA project, greatly facilitating mining operations. Qualified labor is accessible through the Llipa district. Petroleum, gasoline and other fuels are easily obtained within a short, reasonable distance.
The average height of LLIPA project varies between 3,600 to 4,200 meters above sea level.
For more information, please visit www.southamericanmining.com
Shahin Tabatabaei, President and CEO for Nilam Resources Inc. stated, "We believe that our Llipa project has great potential, everything in the past supports our vision for this project, but we believe an updated study of the project by an independent geological team is needed to further support our vision. We believe this is the first step in executing our strategies."
About Nilam Resources Inc.
Nilam Resources Inc. is focused on the exploration and production of precious and base metals on their current Llipa and El Varon properties in Peru. The Nilam Resources Inc team will research, review and prove any reserves for the purpose of production as part of its growth plan. The company also plans to recognize, and acquire near-term production mining properties as part of its further growth strategy.
Symbol: OTCQB – NILA
FORWARD-LOOKING STATEMENTS: "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements relating to the company's business activities and other statements in this press release are forward-looking statements within the meaning of the Securities Litigation Reform Act of 1995. Such statements are based on current expectations about the Company's business. Words such as expects, anticipates, intends, plans, believes, estimates and similar words and expressions are intended to identify such forward-looking statements. These statements involve risks that are difficult to evaluate. Actual results can vary from descriptions herein due to many factors including changes in metal prices and business conditions; changes in laws and regulations; problems encountered in exploration and obtaining permits; changes in the competitive environment; technological advances; shortages of skilled workers, drill rigs and equipment; the need for additional capital and other risks listed in the Company's Securities and Exchange Commission filings under "risk factors" and elsewhere. Forward-looking statements speak only as of the date they were made. The Company does not undertake any obligation to update forward-looking statements.
Contact:
Nilam Resources Inc.
info@southamericanmining.com
